Posts Tagged ‘utica’

UMH CEO Sam Landy Touts and Tempers Manufactured Home Operation’s Expectations

April 10th, 2018 Comments off


UMH Properties (UMH:NYSE) has both touted and tempered the results and expectations that investors may have with respect to one of the largest players in the manufactured home community (MHC) sector.


To provide a balanced view of the latest reports on the manufactured home (MH) community REIT (Real Estate Investment Trust) – UMH Properties – to MH Industry Professionals and investors, one must take a step back and establish some context.

The Daily Business News is the only MH Industry trade media that tracks their and other stocks connected to manufactured homes.  We’ve done so for years. The closing numbers on the UMH stock last night are linked here.


 So MHProNews and has directly engaged with UMH Properties for years, as well as tracked reports about them by others.  MHProNews has interviewed UMH President Sam Landy a number of times.


The videos posted are both from 2017, but are revealing and relevant precisely as background.  They reflect their leadership’s thinking and company facts in brief.

MHProNews will follow up in the near term with a deeper data dive into UMH, and what that tells us about the trends in manufactured housing in general, as well as in the community sector.

Related reports to the state of the manufactured home industry after the end of the first quarter of 2018 are linked below. ## (News, analysis, and commentary.)  (Third party images are provided under fair use guidelines.)

Related Reports:

“Trailer House Trauma,” Fresh Look at Manufactured Housing’s Opportunities

Intelligence Report – MHI Producer Spotlights “the Plan” for MHCs, Community REITs

Sun Communities Annual Data and Manufactured Housing Industry Investor Presentation Highlights

Marketing, Web, Video, Consulting, Recruiting and Training Resources

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for

Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and

UMH Properties Reports Sustained Growth for Q4 2014

March 13th, 2015 Comments off

umh_mfg_home__cedit_umhIn the company’s year end and Q4 conference call, UMH’s president and CEO Samuel Landy says the company acquired 14 manufactured home communities (MHC) comprised of 1,600 developed homesites for $42.6 million, representing an increase in home sites of 12 percent. In addition, UMH acquired an MHC in Erie, Pennsylvania with 141 homesites for $3.8 million since Jan. 1.

During Q2 of this year the company expects to close on three more PA MHCs with 482 developed homesites for $9.1 million, and is negotiations for additional properties. The company expects to spend another $100 million for communities during the next few years, as seekingalpha tells MHProNews.

Overall occupancy rose to 82.3 percent from 81.5 percent at year-end 2013, and 1,500 rental units were added over the past two years for total rental units of 2,600 at the end of 2014. Occupied rental homes now account for 19 percent of total homesites. As the result of tight credit standards and limited wage growth, rental units are in higher demand.

For Q4 2014, core funds from operations (FFO) equaled $3.8 million, an increase of 220 percent over the $1.1 million for Q4 2013. Rental income grew 20 percent from $14.1 million to $16.9 million for Q4 over the same quarter of 2013.

UMH has also opened four MH sales centers which generated a loss of $1.9 million for 2014, an increase from the $640,000 loss of 2013, but in the long term UMH expects as sales increase this figure will turn around.

The company has $10.2 million available on its line of credit and owns $63.6 million in marketable REIT securities. Taking advantage of the low interest rates, UMH will refinance a portfolio of their MHCs, raising $55million to $60 million which will provide $40 million to $45 million in available cash.

Chairman of the Board of UMH Eugene Landy says the company is taking advantage of the growing housing market, especially MH rentals, in the Utica and Marcellus gas and oil exploration markets in Pennsylvania and Ohio, and has invested in MHCs in that region. ##

(Photo credit: UMH Properties)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.


HUD Code, Modular Builder Expands

April 21st, 2014 Comments off

G&I Homes, Inc. recently took over the former site of Serenity Housing Sales, Inc. in Ballston Spa, New York, joining the company’s other manufactured and modular home sales centers in Utica, Vernon, Brewerton, Whitney Point and Oneonta, according to As has learned, G&I has been in business 49 years, touting itself as the largest manufactured and modular home builder in New York. ##

(Image credit: G&I Homes, Inc.)

UMH Properties Receives Reinitiation from Sidoti

September 13th, 2013 Comments off

Provider of equity research Sidoti & Company LLC has issued a BUY rating for the stock of manufactured housing community owner UMH Properties, Inc. based on its presence in the Utica and Marcellus Shale energy exploration region. Sidoti says an influx of workers and families to the area, which includes eastern Ohio, western New York and Pennsylvania, and northern West Virginia will increase UMH occupancy from 80 percent in 2012 to 82 percent in 2013 and 84 percent in 2014. Additionally, revenues will rise 33 percent to $62.2 million in 2013 and 16 percent higher in 2014 to $72 million. The company estimates funds from operations (FFO) for UMH will increase from $0.62 per share in 2012 to $0.84 per share this year and $0.89 in 2014. As MHProNews knows, UMH owns and operates 68 manufactured housing communities comprised of 12,800 sites in seven states, as well as a portfolio of real estate investment trust securities.

(Photo credit: UMH Properties, Inc.)

Sales High in Ohio

June 10th, 2013 Comments off

Sales of manufactured housing have risen 34 percent this year in Ohio, says Tim Williams, Executive Director of the Ohio Manufactured Homes Association. According to what mydaytondailynews tells MHProNews, last year’s sales of manufactured homes homes increased by the greatest number in 22 years, rising 28 percent. In 2009 sales bottomed out at 596 homes, down from a high of 8,017 in 1998. Census data reveal four percent of the housing in Ohio is manufactured homes. Williams says a lot of the new sales are being reported in the Utica Shale area in eastern Ohio where energy companies are drilling for oil and gas, as we reported here July 11, 2012.

(Image credit: Liberty Homes)

Ohio Preparing for Influx of Workers

July 11th, 2012 1 comment

As energy workers are lured to eastern Ohio to take advantage of the jobs becoming available in the oil and gas fields of the Utica Shale formation, RVBusiness says the Ohio Environmental Protection Agency and the Ohio Department of Health have issued a 12-page set of regulations governing water. The guidelines refer to waste water from showers, toilets, sinks and laundry facilities as they apply to temporary housing, including RVs, modular man camps, and manufactured housing. has learned these are not new regulations, merely developed “as a tool for drilling companies, entrepreneurs, or other interested parties looking at providing temporary housing facilities for oil-gas field workers.”

(Photo credit: Simcoe/Canada)